Shares and the euro fell on Tuesday after Moody's warned it could downgrade top-rated sovereigns including Britain, reminding investors that Europe is still deeply mired in a debt crisis despite Athens' steps to avoid a disorderly default. European shares were expected to remain subdued, with financial spreadbetters expecting Britain's FTSE 100, Germany's DAX and France's
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Competitiveness, the banking sector and the future of the newly found natural gas dominated debate at the LSE conference on the economy of Cyprus held in London last Friday. The conference, entitled “The Cyprus Economy at a Time of European Uncertainty: Managing Reform & Sustainability”, was organised by the Hellenic Observatory and the Research on
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Card spending by Greek Cypriots north of the UN-monitored Green Line dropped by 17.8% compared with the year earlier in January, while spending by Turkish Cypriots fell by 8.6% in the same period, according to data from JCC Payment Systems. Total spending in the north reached EUR 431,757, compared with EUR 525,041 in January 2010.
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Spending using plastic cards issued in Cyprus rose by 26% over the year earlier to EUR 231,540,461 (EUR 232 mln) in January, according to the card company, JCC Payment Systems. JCC noted that the main reason for the increase was road tax renewals. These are increasingly being paid online, as part of the government’s attempts
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**Trade deficit shrinks by 9.7% ** In a little piece of good news for the Cyprus economy the trade deficit shrank by 9.7% in 2011, according to preliminary figures for December, thanks to a combination of strong export growth and weak domestic demand. In 2011 the trade deficit shrank by 9.7% of EUR 523,202 to
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Dutch police arrested a man suspected of making a bomb threat at Amsterdam's Schiphol Airport on Monday after the scare forced a partial evacuation at the airport, one of Europe's busiest, military police said. Terminals 1 and 2 were evacuated and sealed off after police received a call from a man claiming he was in
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Greek parliamentarians have voted through an austerity package that keeps their hopes of securing a 130 billion euros bailout from the European Union and International Monetary Fund on track. But more hurdles have to be cleared before loans start flowing, which are vital if Greece is to avoid a default in March when it faces
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Relief over the passing of austerity measures by the Greek parliament saw bank shares lead European stocks higher on Monday, while the euro also gained even though more steps are needed before the shadow of a messy debt default can be lifted. Greece must still detail how a further 325 million euros ($428.6 million) of
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Soul singer Adele triumphed in her return to music's stage on Sunday, scooping up six Grammys and winning every category in which she was nominated including album of the year for "21" and best record with "Rolling In the Deep." As joyous as the show was for Adele, it was equally as serious with tributes
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APOEL Nicosia caused a major shock by reaching the last 16 of the Champions League and Olympique Lyon, chastened by a domestic defeat, will take nothing for granted when they host the Cypriots in Tuesday's first leg. Lyon's 2-1 loss at home to lowly Caen served as a stern reminder that the club's policy of
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